Budget 2016: What does it mean for fleets?

Chancellor George Osborne delivered his eighth Budget that saw big news on the sugar tax, lifetime ISA, capital gains tax as well as changes to the personal tax allowance, but only a few measures that will impact on fleets. Here are the main points:- Company Car Tax: The main news for fleets was that company car tax will continue to be based on CO2 emissions until at least 2021 despite fears that the Government would change tactic. In addition, tighter capital allowance thresholds to promote ultra-low emission vehicles have been set out. Effective from April 2018, the main rate (18%) threshold is reduced from 130g/km to 110g/km. From the same date, the 100% first-year allowance threshold will also be tightened to vehicles emitting 50g/km or less, down from 75g/km, and this has been extended to 2021. Said to reflect the falling emissions of new…